Accumulating in your account
Practice Problem - You deposit $4,000 in your bank account. If the bank pays 9% compound interest annually, how much will you accumulate in your account after 11 years?
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Summary - You will require $1,000,000.00 in 10 years. If you earn 9% compound interest on your funds, how much will you need to invest today in a lump sum in order to reach your savings goal?
You deposit $4,000 in your bank account. If the bank pays 9% compound interest annually, how much will you accumulate in your account after 11 years?
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